PAYE worker takes the hit for financial culprits

BY now I dare say the unions recognise the economic necessity of pay cuts as our only means of regaining competitiveness in the absence of the devaluation option.

In the private sector pay cuts are already widespread, with basic pay down by as much as 20% for many and bonuses slashed.

Public sector unions, however, are fully justified in their reluctance to sign up for a cut without any apparent counter-move against the various individuals who are clearly responsible for causing the current meltdown.

As the culprits all “retire” presumably to improve their golf handicap, there are many questions that remain unanswered. For one of two top people who had to quit key public sector posts the only penalty appears to be early retirement on full pension — most of us would perceive that as a reward. Did they receive a package, and if so how much?

As for the retiring bank directors, now that the taxpayer is picking up the bill for the billions in liabilities they have left in their wake, how much are they getting? It is not just that we have every right to know as we are paying the bill — it is also the appalling message it sends to the wider community. The culprits walk away scot-free and retain their wealth. The PAYE worker yet again inevitably takes the hit.

Moira Creedon

Inchicore Road

Kilmainham

Dublin 8